A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the 'Code')

1. KEY INFORMATION

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|(a) Full name of discloser: |Majedie Asset Management Limited|
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|(b) Owner or controller of interests and | |
|short positions disclosed, if different from | |
|1(a): | |
| | |
| The naming of nominee or vehicle companies | |
|is insufficient. For a trust, the | |
|trustee(s), settlor and beneficiaries must be| |
|named. | |
+---------------------------------------------+--------------------------------+
|(c) Name of offeror/offeree in relation to | |
|whose relevant securities this form relates: | |
| |TESCO PLC |
| Use a separate form for each | |
|offeror/offeree | |
+---------------------------------------------+--------------------------------+
|(d) If an exempt fund manager connected with | |
|an offeror/offeree, state this and specify | |
|identity of offeror/offeree: | |
+---------------------------------------------+--------------------------------+
|(e) Date position held/dealing undertaken: |14 February 2018 |
| | |
| For an opening position disclosure, state | |
|the latest practicable date prior to the | |
|disclosure | |
+---------------------------------------------+--------------------------------+
|(f) In addition to the company in 1(c) |No |
|above, is the discloser making disclosures in| |
|respect of any other party to the offer? | |
| | |
| If it is a cash offer or possible cash | |
|offer, state 'N/A' | |
+---------------------------------------------+--------------------------------+

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class
of relevant securities of the offeror or offeree named in 1(c), copy table 2(a)
or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the
offeror or offeree to which the disclosure relates following the dealing (if
any)

Details of any open stock-settled derivative positions (including traded
options), or agreements to purchase or sell relevant securities, should be given
on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and
other employee options)

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|Class of relevant security in relation to which subscription right exists: | |
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|Details, including nature of the rights concerned and relevant percentages:| |
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3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of
the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as
appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

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|Details of any indemnity or option arrangement, or any agreement or |
|understanding, formal or informal, relating to relevant securities which may |
|be an inducement to deal or refrain from dealing entered into by the person |
|making the disclosure and any party to the offer or any person acting in |
|concert with a party to the offer: |
| |
|Irrevocable commitments and letters of intent should not be included. If |
|there are no such agreements, arrangements or understandings, state 'none' |
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| |
| |
|None |
| |
| |
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(b) Agreements, arrangements or understandings relating to options or
derivatives

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|Details of any agreement, arrangement or understanding, formal or informal, |
|between the person making the disclosure and any other person relating to: |
| |
|(i) the voting rights of any relevant securities under any option; or |
| |
|(ii) the voting rights or future acquisition or disposal of any relevant |
|securities to which any derivative is referenced: |
| |
|If there are no such agreements, arrangements or understandings, state 'none' |
+------------------------------------------------------------------------------+
| |
| |
|None |
| |
| |
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Public disclosures under Rule 8 of the Code must be made to a Regulatory
Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation
to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.